Forgame Successfully Listed on HKEx, Receiving Favorable Responses in Global Offering
Publish Date:2013-10-03 source:Forgame
(October 3 2013 - Hong Kong) Forgame Holdings Limited ("Forgame" or the "Company", stock code:00484), a leading developer and publisher of webgames in China, today listed on the Main Board of The Stock Exchange of Hong Kong Limited. The stock opened at HK$ 61.75 and closed at HK$67.50, traded as high as HK$69.60 in the first day.
Forgame generated strong interest from investor during the global offering. The valid applications reached approximately 313.41 times of the Hong Kong Offer Shares initially available for subscription under the Hong Kong Public Offering. Due to the over-subscription in the Hong Kong Public Offering, the reallocation procedures have been applied. A total number of 12,548,000 International Placing Shares have been reallocated to the Hong Kong Public Offering. As a result of such reallocation, the final number of Offer Shares allocated to the Hong Kong Public Offering is 15,685,000 Offer Shares, representing 50% of the total number of Offer Shares initially available in the Global Offering (before exercise of the Over-allotment Option). The Offer Shares initially offered in the International Placing were 39.9 times over-subscribed and the final number of Offer Shares in the International Placing is 15,685,000 Shares, representing 50% of the total number of Offer Shares initially available in the Global Offering (before exercise of the Over-allotment Option). The initial public offering price has been set at HK$51.00 each.
According to the prospectus, the company will allocate approximately 20% of the Company's total estimated net proceeds to further expand the Company's webgame and mobile game businesses, approximately 60% of the net proceeds to acquire webgame and mobile game licenses and IP rights from other game developers and invest in or acquire other webgame and mobile game companies or businesses, approximately 10% of the net proceeds to fund the expansion of the Company's international operations, and the rest 10% of the net proceeds will be used for working capital and other general corporate purposes.
About Forgame Holdings Limited
Forgame Holdings Limited ("Forgame" or the "Company") is a leading developer and publisher of webgames in China with a fast-growing mobile game business. Established in 2009, Forgame has successfully developed and launched over 30 easy-to-access, highly engaging and popular games. Forgame's publishing platform, 91wan, published 79 self-developed and licensed webgames and had attracted over 179 million registered players as of June 30, 2013. This integrated business model creates synergies that improve the Company's overall performance. Forgame's webgames can be played on 91wan, as well as through an extensive network of more than 350 publishing partners, including popular websites operated by Tencent, Qihoo360, YY and 4399. Forgame's webgames adopt an item-based revenue model, which provides free access for the players and allows them to purchase virtual items for a better in-game experience.
Forgame generated strong interest from investor during the global offering. The valid applications reached approximately 313.41 times of the Hong Kong Offer Shares initially available for subscription under the Hong Kong Public Offering. Due to the over-subscription in the Hong Kong Public Offering, the reallocation procedures have been applied. A total number of 12,548,000 International Placing Shares have been reallocated to the Hong Kong Public Offering. As a result of such reallocation, the final number of Offer Shares allocated to the Hong Kong Public Offering is 15,685,000 Offer Shares, representing 50% of the total number of Offer Shares initially available in the Global Offering (before exercise of the Over-allotment Option). The Offer Shares initially offered in the International Placing were 39.9 times over-subscribed and the final number of Offer Shares in the International Placing is 15,685,000 Shares, representing 50% of the total number of Offer Shares initially available in the Global Offering (before exercise of the Over-allotment Option). The initial public offering price has been set at HK$51.00 each.
According to the prospectus, the company will allocate approximately 20% of the Company's total estimated net proceeds to further expand the Company's webgame and mobile game businesses, approximately 60% of the net proceeds to acquire webgame and mobile game licenses and IP rights from other game developers and invest in or acquire other webgame and mobile game companies or businesses, approximately 10% of the net proceeds to fund the expansion of the Company's international operations, and the rest 10% of the net proceeds will be used for working capital and other general corporate purposes.
About Forgame Holdings Limited
Forgame Holdings Limited ("Forgame" or the "Company") is a leading developer and publisher of webgames in China with a fast-growing mobile game business. Established in 2009, Forgame has successfully developed and launched over 30 easy-to-access, highly engaging and popular games. Forgame's publishing platform, 91wan, published 79 self-developed and licensed webgames and had attracted over 179 million registered players as of June 30, 2013. This integrated business model creates synergies that improve the Company's overall performance. Forgame's webgames can be played on 91wan, as well as through an extensive network of more than 350 publishing partners, including popular websites operated by Tencent, Qihoo360, YY and 4399. Forgame's webgames adopt an item-based revenue model, which provides free access for the players and allows them to purchase virtual items for a better in-game experience.